IMF Working Papers

“Financial Sector Reforms in Algeria, Morocco, and Tunisia: A Preliminary Assessment,” by Abdelali Jbili, Klaus Enders, and VolkerTreichel [97/81] “Macroeconomic Fluctuations in Sub-Saharan Africa,” by Alexander W. Hoffmaister, Jorge E. Roldós, and Peter Wickham [97/82]

“Do Central Banks Need Capital?” by Peter Stella [97/83]

“Recovery Ratios and Survival Times for Corporate Bonds,” by Ivailo Izvorski [97/84]

“Growth, Investment, and Saving in the Arab Economies,” by Amer Bisat, Mohamed A. El-Erian, and Thomas Helbling [97/85]

“Borrowing Risk and the Tequila Effect,” by Pierre-Richard Agénor [97/86]

“Capital Flows and the Twin Crises: The Role of Liquidity,” by Ilan Goldfajn and Rodrigo O. Valdés [97/87]

“Do Tax Rates Encourage Entrepreneurial Activity?” by Roger H. Gordon [97/88]

“Institutional Development: Skill Transference Through a Reversal of ‘Human Capital Flight’ or Technical Assistance,” by Nadeem Ul Haque and M. Ali Khan [97/89]

“From Suez to Tequila: The IMF as Crisis Manager,” by James M. Boughton [97/90]

“Exogenous Shocks, Deposit Runs, and Bank Soundness: A Macroeconomic Framework,” by Mario I. Blejer, Ernesto V. Feldman, and Andrew Feltenstein 197/91]

“Authorities’ Roles and Organizational Issues in Systemic Bank Restructuring,” by Peter Nyberg [97/92]

“Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments,” by Francesco Paolo Mongelli [97/93]

“The Role of Fiscal Policy in Sustainable Stabilization: Evidence from Latin America,” by Teresa Ter-Minassian and Gerd Schwartz [97/94]

“Debt Reduction and New Loans: A Contracting Perspective,” by John A. Carlson, Aasim M. Husain, and Jeffrey A. Zimmerman [97/95]

“Public Disclosure and Bank Failures,” by Tito Cordella and Eduardo Levy Yeyati [97/96)

“Growth and Productivity in ASEAN Countries,” by Michael Sarel [97/97]

“Some Evidence on Exchange Rate Determination In Major Industrial Countries,” by R. Barry Johnston and Yan Sun [97/98]

“The Design of EMU,” by David Begg [97/99]

“Controlling Fiscal Corruption,” by Sheetal K. Chand and Karl O. Moene [97/100]

“Fiscal Policy and Growth in the Middle East and North Africa Region,” by Sena Eken, Thomas Helbling, and Adnan Mazarei [97/101]

“On the Speed of Transition in Central and Eastern Europe: Does On-the-Job Search Matter?” by Zuzan a Brixiova [97/102]

“Japanese Foreign Direct Investment and Regional Trade,” by Tamim Bayoumi and Gabrielle Lipworth [97/103]

“Potential Output Growth in Emerging Market Countries: The Case of Chile,” by Jorge Roldós [97/104]

“The Egyptian Stabilization Experience: An Analytical Retrospective,” by Arvind Subramanian [97/105]

“The Determinants of Banking Crises: Evidence from Developing and Developed Countries,” by Asli Demirgüç-Kunt and Enrica Detragiache [97/106]

“Tax Effort in Sub-Saharan Africa,” by Janet G. Stotsky and Asegedech Wolde-Mariam [97/107]

“Explaining and Forecasting the Velocity of Money in Transition Economies, with Special Reference to the Baltics, Russia, and Other Countries of the Former Soviet Union,” by Mark De Broeck, Kornélia Krajnyák, and Henri Lorie [97/108]

“Estimating the Equilibrium Real Exchange Rate: An Application to Finland,” by Tarhan Fezioğlu [97/109]

“Saving in Southeast Asia and Latin America Compared: Searching for Policy Lessons,” by Anuradha Dayal-Gulati and Christian Thimann [97/110]

“Japan’s Restrictive System of Trade and Payments: Operation, Effectiveness, and Liberalization, 1950–1964,” by Shinji Takagi [97/111]

“Investing U.S. Social Security Trust Fund Assets in Private Securities.” by Michael Leidy [97/112]

“The Insurance Role of Social Security: Theory and Lessons for Policy Reform,” by Victor H. Valdivia [97/113]

“The Changing Role of the State in the Economy: A Historical Perspective,” by Vito Tanzi [97/114]

“Capital Flows to Brazil: The Endogeneity of Capital Controls,” by Eliana Cardoso and Ilan Goldfajn [97/115]

“The Impact of Trade Prices on Employment and Wages in the United States,” by Dalia Hakura [97/116]

“Determinants of Stock Prices: The Case of Zimbabwe,” by Tsuyoshi Oyama 197/117]

“Policy Complementarities and the Washington Consensus,” by Jahangir Aziz and Robert F. Wescott [97/118]

“Exports, Inflation, and Growth,” by Thorvaldur Gylfason [97/119]

“Income Distribution and Social Expenditure in Brazil,” by Benedict Clements [97/120]

“Derivatives’ Effect on Monetary Policy Transmission,” by Coenraad Vrolijk [97/121]

“Shock Versus Gradualism in Models of Rational Expectations: The Case of Trade Liberalization,” by Leonardo Auernheimer and Susan Mary George [97/122]

“Discrepancies Between Quarterly GDP Estimates,” by Adriaan M. Bloem, Robert Dippelsman, Fenella Maitland-Smith, and Paul Armknecht [97/123]

“Monetary Impact of a Banking Crisis and the Conduct of Monetary Policy,” by Alicia Garcia-Herrero [97/124]

“Globalization and Growth Prospects in Arab Countries.” by Patricia Alonso-Gamo, Annalisa Fedelino, and Sebastian Parts Horvitz [97/125]

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